Andronescu, Andreea; Mohammadi, Hassan; Payne, James - In: Applied Economics Letters 11 (2004) 14, pp. 861-864
This paper estimates the long-run demand for money in Romania using monthly data from January 1994 to August 2003. The Johansen-Juselius cointegration procedure provides evidence of one cointegrating vector for both narrowly and broadly defined money demand functions. Real money balances are not...